Building Your Money Machine

— Summary —In this episode, we begin to dive into the three phases of business life or product life framework. This is the process that we use to take a product and business, and bring it to life. In a previous session, we talked about the concept that there are three phases that every product or business must go through: Think Up, Get Up and Reach Up phase.The first phase Think Up has three stages Decide, Ideation and Model. As opposed to popular belief idea doesn't come first and there are a whole lot of decisions and choices that come into play before an idea is generated and turned it into reality.When we decide on the correct choices, we're going to start to come up with ideas and because we're coming at it as an entrepreneur, we take on the identity of an entrepreneur first. After taking the identity of an entrepreneur, you can go through the most difficult path to reach the destination and this destination comes as the result of the "WHY".There may be more but these are the four major categories of "Why" for entrepreneurs with examples of real entrepreneurs. They are:1.     Passion-Driven Peter Diamandis: A passion driven entrepreneur who creates business around his personal passions. He's got incredible things related to exploring space and his efforts will affect how we live our lives.2.     Purpose-Driven Elon Musk: He's driven by his purpose to find a cleaner way of living by capitalizing on electrical energy. He is involved with a lot of new technological developments.3.     Money-Driven Donald Trump: He is driven by the bottom line—the money. Being driven by money doesn't matter because you create jobs, products, services for serving society and community.4.     Transformation-Driven Steve Jobs: He revolutionized and transformed several industries like music and communication

People say that we are on the edge and near disaster but actually, we are in the greatest times filled with opportunities. So much is happening and so many things are changing. At a time like this, it is really important to set the stage for what it is that we are going to do. There are two paths that you can take.The first path is what the society believes it should be. You get a degree, then a job and wait for promotions to climb the corporate ladder, slowly. This has been done since a long time by a lot of people. But just because everyone does it, is it the right way to do it? This road is filled with stress that can negatively impact our health and well-being.The second path is to design your life the way you wanted while having the courage to do so. Do it your way as long as it is moral, legal and you're not hurting anyone. It takes courage, boldness and the ability to step out of your comfort zone to take a different route than the rest. There will be people that laugh at you, torment, fight, ridicule, and criticize you. You need to be okay with that. You need to move forward and reach the other side that contains all the joy that you were looking for.There will be struggle along the way, but if you are on the right journey with the right purpose, it won't feel like a struggle. It just feels like a part of the process, and you will be able to enjoy the journey and not just the destination. You might have hiccups on the way but if you make the right choices and decisions, you will find success.One of the greatest regrets that people have during their last moments is not having the courage to live the life they wanted. We're not here to live a life of mediocrity. We're here to thrive and build something vibrant so at the end we can be happy and fulfilled about the life we lived.When entrepreneurs have an idea, they run full-fledged with that idea to bring it to life but since they don't define every step they will be taking, years down the line, they will face hurdles and won't be able figure out why. The reason for this is that they weren't specific from the beginning. When you're focused on the numbers you lose people and the things that are really important, that drive the numbers. Always know that people matter in the process.    ____________________ABOUT MEL ABRAHAMMel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for

SUMMARY:1.     As an entrepreneur, you might get sucked into your business so much that you miss out on the other important aspects of life. If this happens, it won't be worth it – as having your own business should actually allow you to create a community, support the society and live your dreams.2.     Make sure to take a time off every 90 days or so and do three things: Reflect, Reconnect and Rejuvenate.Reflect: Take a vacation or a long weekend, and block out your work and schedule. Reflect on the things that you experienced. Think about both the good and bad experiences. As you look back, recognize and celebrate your wins. Also reflect about the missteps that could have been improved.Reconnect: You are able to do great things because of the people that support you. Take your time to reconnect with those loved ones and talk to them. Also, reconnect with the purpose, mission and vision of your life; as it keeps you on track.Rejuvenate: After reflecting and reconnecting, you are naturally rejuvenated. A lot of energy builds up in you and you are ready to take on the next 90 days. To make rejuvenation more meaningful, make sure to be grateful for the things that you have and that have happened to you. Be prepared, make your commitments and get ready to take on the coming days.3.     Practical takeaways to change your life:Handwrite with a pen on a card and send it to the people that matter, thanking them for being in your life.Journal every ideas, the things that you've learned and the experiences that you had. Make it a weekly habit.Block your time out for a retreat, 12 months in advance. Plan this ahead and mark your calendar. Plan your trip and the experiences you want to have.____________________ABOUT MEL ABRAHAMMel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions o

In this session we talk about the three phases of business life which is the process I go through when I have to launch a new business or service. They are required to build a business but even before the three phases, get the concept of customer promise. Know how the life of customers will shift and change because of your work, products and services.Before your customers you must be truly, emotionally and passionately behind your products and services, and only then you will be able to create emotions in your customers, team and vendors.Now comes the three phases of business life which are:The Think Up Phase: You choose a design in this phase.The Get Up Phase: You literally move forward and start the business in this phase.The Reach Up Phase: The final phase that deals with scaling, growing and building.Each of these individual phases has three stages to them. If you are able to journal them and follow them as a check list you will be able to raise the probability and level of business success.1. Three Stages of the Think Up PhaseDecide: Make a decision to be an entrepreneur and sell products or services. Know the reason behind it and decide on the things that you are going to do. Be informed about the timeline and obstacles as well.Concept of Ideation: We all have plenty of ideas but we don't know whether they are good or not. If we start on multiple ideas, we never finish them. You can't do it all at once. In this stage we evaluate multiple ideas and think them through.Modelling Process: This is the phase where we begin to create our model. It is about how you will create, capture, package, campaign and deliver value at a holistic level. It shouldn't just be customer centric but it should be modeled around your team, staff, employees, contractors, business owners, investors and yourself as well. Know how to create value for them that is beyond the paychecks.2. Three Stages of the Get Up PhasePlan: Look at what the markets are, analyze where the sales might come from, the people we need and the financial aspects of what we do. We need to figure out whether the idea is commercially viable.Structure: This is where we think about how to structure the business. Decide on matters like entity selection, risk exposures, asset classification while eliminating or reducing risk e

SUMMARY:This is the very first introductory episode of the Entrepreneur's Solution. In this session, we talk about the show, its target audience, topics that you can expect in future episodes.Creating, building and scaling a meaningful business can bring back possibilities into our lives—giving us the courage to live the life that we dreamed—while having an impact on the society that we live in.This show is for aspiring as well as established entrepreneurs of any scale. It's for businesses and entrepreneurs who want to shift the way they do things so as to create more profit, fans and freedom. The street proven principles, strategies and frameworks you will learn in every episode are well-tested and backed by experience.The episodes will work as:First 7–10 episodes will introduce the proven businesses principles that I've used. That includes important principles, frameworks as well as the information to do business at a level that doesn't suck the life out of you.After that, we are going to dig deep into multiple aspects that a business presents. We will dig into aspects like marketing, mechanics, money, mindset and business model.Through the show, I want to be your entrepreneurial mentor. You can ask me questions at www.askmelnow.com and a future show will have those questions answered. Remember, that this show is for you to gain the skills, tools, strategies and tactics to accelerate your success.The show will also include periodic guest entrepreneurs. We will be talking about their business and the lessons that they've learned.The show will include key practical takeaways that you can execute. These will drive you towards your dream.I will also share some tools like worksheets, summary sheets that you can use in your everyday business.____________________ABOUT MEL ABRAHAMMel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.Mel is a true believer in the entrepreneurial way of life and says that this “new frontier” is the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.Meet Mel at http://melabraham.com/____________________THE ENTREPRENEUR'S SOLUTIONThe Entrepreneur's Solution is a weekly entrepreneur, business, wealth and lifestyle show where entrepreneur, speaker and author Mel Abraham reveals all of his business and entrepreneur building strategies. Mel is one of our time's most sought after mentors and speakers that not only teaches but also lives what he teaches. Discover how to design, create and build your business so it gives you the life and lifestyle you want.Subscribe to the free entrepreneurial podcast here: http://melabraham.com/podcastThe Entrepreneur's Soluti

SUMMARY:There are basic fundamental principles about business that you need to understand. Mastering your business requires mastering the basics. It will drive your business and escalate your success. There will be changes and shifts in market dynamics, legislation, preferences and other factors that influence a business. If you build a strong foundation for a business, we can easily respond to the changes that enable us to handles the downslopes and take advantages of new opportunities.Business Mastery Roadmap FrameworkWhen it comes to business, five basic things must be figured out.1. Marketing: Every business needs marketing and sales process. This is the process by which you will reach out to your customers.For marketing, these are required: ·       Customers: Who are your customers and what do they really want? We need to identify their habits, demographics, location and every other specific detail.·       Communication: Create messages that allow you to communicate with your target market from a logical as well as an emotional stand point.·       Connection: Understand how you will connect with your market. It is necessary to connect with them at a visceral emotional level by understanding every little detail about them.2. Mechanics: Mechanics is about the business and how you run it? It is about the roles, rules and reporting around your business. ·      

SUMMARY:There are societal rules like finishing college, taking a job in a large firm and working hard to get promoted. Following these may mean a lot of hectic schedules and an unhealthy lifestyle. Not everyone can follow these rules of the society. So in life, you may come across the question:Do I follow my dream or do I take the easy road?People do business for different reasons. Some do it to make a profit, some do it to steal money, and others do it because they care and want to have an impact, make a difference for people that their business influences.My Analyst FrameworkBeing an entrepreneur, doing business on some levels is easy. There are only two things that you have to manage in life: To manage, minimize and eliminate as much downsize risk as possible.To maximize potential and boost opportunities that comes in the picture.These are below the line stuffs that answer "The How" and "The What".Above the line is where you'll find a more important question and that is:Why are you doing what you do or want to do?All the challenge lies here. You might get the "below the line stuff" right, but managing the things that lie above the line—giving meaning to your business— is not simple. The lifestyle that you have because of the business and the legacy that you build is your meaning. These inform all the decisions that we make below the line.It is necessary to have our stuff above the line, right. Otherwise, it can negatively impact the things that we have below the line: like being unable to make the correct business decisions or allowing our businesses suck the life out of us. We may dedicate our time and resources to building something, but it ends up being an empty build.There are four things we need to ask ourselves to build the above the line stuffs:  What are you dedicated to in the context of higher purpose, the meaning and everything that you are doing?What are you devoted to or who are the people that you are devoted to?What are you prepared to do and how much discipline are you prepared to bring to this game, this world called entrepreneurship?What is the energy that is driving you and the thing that wakes you up in the morning?Answer these four sets of questions, write them down, journal them the old pen and paper way. Reflect and act on them to refine and define your "Why". Remember to subscribe and share this show.____________________ABOUT MEL ABRAHAMMel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.Mel is a true believer in the entrepreneurial way of life and says that this “new frontier” is the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.Meet Mel at http://melabraham.com/____________________

SUMMARY:This is the introductory episode of The Entrepreneur's Solution. In this session, we talk about the show, its target audience, topics that you can expect in future episodes and how I may become your entrepreneurial mentor.Creating, building and scaling a meaningful business can bring back possibilities into our lives—giving us the courage to live the life that we dreamed—while having an impact on the society that we live in. Entrepreneurs truly can solve the challenges of the society effectively and efficiently. They are truly the key to the future. It's not that difficult either; as with the resources available today the ability to become an entrepreneur is much easier.This show is for aspiring as well as established entrepreneurs of any scale. It's for businesses and entrepreneurs who want to shift the way they do things so as to create more profit, fans and freedom. The street proven principles, strategies and frameworks that you will learn in every episode are well-tested and backed by experience.The episodes will work as:First 7–10 episodes will introduce the proven businesses principles that I've used. That includes important principles, frameworks as well as the information to do business at a level that doesn't suck the life out of you.After that, we will dig deeper into the various aspects of business. We will delve into aspects like marketing, mechanics, money, mindset and business model.I want to be your entrepreneurial mentor through this show. You can ask me questions via www.askmelnow.com and a future show will have those questions answered. Remember, that this show is for you to gain the skills, tools, strategies and tactics to accelerate your success.The show may also include successful entrepreneur guests to talk about their business, their success, their challenges and the lessons that they've learned.The show will include key practical takeaways or actionable tactics that you can execute. These will drive you towards your dream.I will also share some tools like worksheets, summary sheets that you can use daily in your business.Remember to subscribe and share this show.____________________ABOUT MEL ABRAHAMMel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.Mel is a true believer in the entrepreneurial way of life and says that this “new frontier” is the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.Meet Mel at http://melabraham.com/____________________THE ENTREPRENEUR'S SOLUTIONThe Entrepreneur's Solution is a weekly entrepreneur, business, wealth and lifestyle